Alinta Gets 19.9% Stake
In AGL, Forcing Talks

MELBOURNE, Australia -- Alinta Ltd. said it has secured a strategic 19.9% stake in Australian Gas Light Co., forcing the much bigger takeover target to the negotiating table.

Analysts said Alinta has all but guaranteed its ability to scuttle AGL's own split-up plan, giving it a powerful bargaining chip in the talks about its takeover offer, which values AGL at A$8.9 billion (US$6.58 billion). AGL has planned to split into two...